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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Kingsford, Business Loans > Northern Michigan Bank & Trust Kingsford Business Loans > Eating Places Loan | ||||
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Kingsford, Michigan Bank Loan
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Local Business Gets a Michigan Business LoanMichiganBusiness loans are available to Michigan business owners through the SBA. In this case, a Michigan bank provides the loan. Getting a small business loan in Kingsford, Michigan was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Northern Michigan Bank & Trust. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NORTHERN MICHIGAN BANK & TRUST This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/28/2001 Loan Approval Gross Amount $103,000 Loan Approval from the SBA Of the total $103,000 loan amount, the SBA guaranteed $87,550. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding. This SBA loan was for $103,000. How would you spend $103,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Obtaining Funding - How to Borrow Money SBA 7A Banks for Kingsford, Michigan Loans
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